ImmunoGen hits 20-year Highs on Q2 Results and Recent Progress Report

July 31, 2023

(24/7 MARKET NEWS) – ImmunoGen, Inc. (NASDAQ:IMGN) reported, this morning, its second quarter financial results and a recent progress report, which included that the Company’s strong momentum is continuing with $77.4 million in net second quarter sales for its US ELAHERE launch and that the Company generated $350.8 million in net proceeds from Public Equity Offering, further strengthening its balance sheet.

ImmunoGen is trading at $20.49, up $0.97 (+4.97%), on 28.28K premarket shares traded.

Its 52-week range is $3.605 to $20.69. It already hit $23 in this morning’s premarket trading and is trading at levels last seen in 2021 and, if the trading volume strengthens, it may try to make a run at the $23+ trading levels in the regular trading session.

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